November 24, 2016 - By Louis Casey · 0 Comments
The stock of Ardelyx Incorporated (NASDAQ:ARDX) registered an increase of 3.24% in short interest. ARDX’s total short interest was 1.45 million shares in November as published by FINRA. Its up 3.24% from 1.40 million shares, reported previously. With 109,400 shares average volume, it will take short sellers 13 days to cover their ARDX’s short positions. The short interest to Ardelyx Incorporated’s float is 5.42%. The stock increased 2.30% or $0.35 on November 23, hitting $15.55. About 162,728 shares traded hands or 0.63% up from the average. Ardelyx Inc (NASDAQ:ARDX) has risen 75.71% since April 22, 2016 and is uptrending. It has outperformed by 70.30% the S&P500.
Ardelyx, Inc. is a clinical-stage biopharmaceutical firm focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal tract to treat GI and cardio-renal diseases. The company has a market cap of $725.99 million. The Firm operates through research, development and commercialization of biopharmaceutical products segment. It currently has negative earnings. It has discovered and designed its lead product candidate, tenapanor, which is a minimally systemic small molecule that acts locally in the GI tract to inhibit the sodium transporter sodium-hydrogen exchanger 3 (NHE3) and reduce sodium and phosphorus uptake from the gut.
Out of 5 analysts covering Ardelyx Inc (NASDAQ:ARDX), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Ardelyx Inc has been the topic of 7 analyst reports since August 18, 2015 according to StockzIntelligence Inc. On Tuesday, September 22 the stock rating was initiated by BTIG Research with “Buy”. BTIG Research initiated the stock with “Buy” rating in Friday, December 18 report. The stock has “Buy” rating given by Ladenburg Thalmann on Thursday, March 31. JMP Securities maintained the shares of ARDX in a report on Wednesday, March 9 with “Market Outperform” rating. The stock of Ardelyx Inc (NASDAQ:ARDX) has “Buy” rating given on Thursday, September 3 by Wedbush. The firm has “Buy” rating given on Wednesday, August 10 by Citigroup.
Ardelyx, Inc., incorporated on October 18, 2007, is a clinical-stage biopharmaceutical firm focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Firm operates through research, development and commercialization of biopharmaceutical products segment. The Firm has developed drug discovery and design platform to discover and design drug candidates. Utilizing its platform, the Company has discovered and designed its lead product candidate, tenapanor. The Company’s development programs also include RDX009 Program, RDX013 Program and RDX011 Program. The Firm also owns NaP2b inhibitor compounds. NaP2b is an intestinal transporter of dietary phosphorus.
More notable recent Ardelyx Inc (NASDAQ:ARDX) news were published by: Marketwatch.com which released: “Ardelyx Inc. NASDAQ: ARDX” on June 19, 2014, also Prnewswire.com with their article: “Ardelyx Reports Third Quarter 2016 Financial Results and Recent Progress” published on November 07, 2016, Prnewswire.com published: “Ardelyx Strengthens Executive Leadership with the Appointment of Reginald …” on October 24, 2016. More interesting news about Ardelyx Inc (NASDAQ:ARDX) were released by: Prnewswire.com and their article: “Ardelyx to Announce Third Quarter 2016 Financial Results on November 7, 2016” published on October 31, 2016 as well as Quotes.Wsj.com‘s news article titled: “Ardelyx Inc. ARDX (US: Nasdaq)” with publication date: May 22, 2013.
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By Louis Casey